Here are Tuesday’s biggest calls on Wall Street:
Bank of America raised its price target on the stock to $375 per share from $325.
“Despite tariff-driven supply concerns, May used car supply ended at 44 days of supply, up one day vs. April, and down only two days Y/Y. In our tracking, Carvana’s Inventory is at its highest level since March (at 32.9k in SF Bay Area) with rapid-delivery inventory at recent highs.”
Bank of America said data center demand trends remain robust for Nvidia.
“Developing AI infrastructure leveraging local datasets and workforces is a rapidly growing global phenomenon and we expect it to contribute $50bn+ annually or 10%+ of long-term AI addressable market.”
Goldman said it’s sticking with the stock following its Worldwide Developers Conference reveal.
“We are Buy-rated on AAPL as we believe that the market’s focus on slower product revenue growth masks the strength of the Apple ecosystem and associated revenue durability & visibility. ”
The firm said it’s sticking with its underweight rating.
“Most of TSLA May delivery results are now out. Once again, global deliveries are trending meaningfully weaker, with May trending 23% lower y/y and Q2 QTD trending 21% lower y/y. All three key regions are double-digit % lower, with EU the worst.”
Wells raised its price target on the stock to $320 per share from $300.
“JPM’s internally generated organic growth is better than we and likely many others appreciate.”
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Redburn double downgraded the stock due to growth concerns and obesity drugs.
“Concerns around GLP-1s, pricing and tempered growth expectations lead us to downgrade McDonald’s to Sell (from Buy)...”
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The firm said the owner of brands like KFC has “category momentum.”
“On the positive side, our above-consensus estimates for Yum! Brands are reflective of better category momentum and less optimistic pricing expectations.”
DA said it’s sticking with its underperform rating on the stock after a financial disclosure.
“CoreWeave disclosed a pro forma contract financing structure example to analysts earlier today, trying to indicate shareholders will get some returns during the duration of the contracts being signed. We believe the disclosure (even if accepted at face value) very clearly illustrates the exact opposite point...”
KeyBanc said the observability platform is best positioned.
“We are positive on Dynatrace’s leadership in APM [application performance monitoring] and in the enterprise segment, a strong #2 consolidator after Datadog, and has several product and GTM [go-to market] catalysts for continued high-teens growth.”
Citi said it’s sticking with its long term sell rating on both stock but is adding a positive catalyst as the companies are Apple supply chain beneficiaries.
“Moreover, Asia supply chain currently expects 80-95M or stable Y/Y growth for iPhone 17 build. Apple supply chain stocks historically outperform AAPL stock from WWDC through iPhone launch event in September. As such, we are adding upside 90-day catalyst watches on SWKS/QRVO into earnings and IP17 launch.”
The firm reinstated coverage of the German bank and says it’s extremely well positioned.
“DBK is a ‘Global Hausbank’ with a valuable German edge.”
Loop raised its price target on Disney to $130 per share from $125,.
“We are raising our DIS PT to $130 from $125 based on higher multiples and a more stable environment and reiterate our Buy rating.”
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